US Dollar Weakening?

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Were you awake last nite at 2am to watch the FED interest rate announcement?

It is better you don’t. Have quality sleep which is the best as from where I come from, trading the US market needs me to be awake till 5am.
I managed my trades by protecting all my open trades and slept around 12am…

after doing my research using ForexTester

The more I watch the market during high impact news, the more it will influence my trading decisions…

However… my setup is purely based on technical and nothing to do with news. So why worry?

Anyway…Let’s come back for yesterday Fed announcement by Yellen…

Federal Reserve officials held off from raising borrowing costs and scaled back forecasts on how high interest rates will rise this year, citing the potential impact from weaker global growth and financial-market turmoil on the U.S. economy.

The Federal Open Market Committee kept the target range for the benchmark federal funds rate at 0.25 percent to 0.5 percent.


What does this mean?….

This means the FED is still very cautious about the economy and by not increasing the interest rates 4 times as expected, it would temporary dampen the momentum of the US Dollar bull as rates increase would increase the value of the Dollar.

So… what’s the outcome?

Let’s take a look on USDx (Dollar Index) Chart below


The price didn’t closed below and was still supported by Piptree WAWS line. See that?

So for me, it’s not yet confirmed break to the downside yet.